During the week of Sept. 13-17, Vanguard Academy sold $44 million of bonds to finance the construction of two new campuses — Beethoven Secondary and Rembrandt Elementary Early Childhood Education Building — in partnership with Truist Securities in its first bond issue.As per Masterson Advisors, the bonds will also allow Vanguard to refinance existing bank notes, including the refinancing of the recently acquired Van Gogh campus. The total cost of funds is locked in at 2.73% for 30 years.The bonds received an investment grade rating of Baa2 from Moody’s Investors Service.Additionally, they were guaranteed by the State of Texas’ Permanent ...